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Feb 7, 2013
02/13
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so unfortunately in this regard, i'm moving from one of the least expensive capital cities in the world, ottawa, to one of the more expensive, shall we say, capital cities in the world, london. >> would you have done the job for less? >> i was offered these terms and i accepted them. >> do you see there might be any resentment amongst staff at the level of your pay package? i'm not aware of any. >> you don't anticipate that in any way? >> i don't anticipate -- if i may say in terms of the pay package, the pay package is, if i may, properly viewed as pay pension and -- >> mark carney continuing to talk about the logistics of it as taking on the role of the head of the bank of england. we can already tell you from statements that are on the wire that he's talking a lot about the exit strategy. he's saying there are limits, you know, to changing the policy framework that the blank of england might pursue. let's bring tom vosa back in here. tom, i have to say there's a generally hawkish tenor to what we're seeing so far. we've seen the spike in the pound as a result of this. what do you mak
so unfortunately in this regard, i'm moving from one of the least expensive capital cities in the world, ottawa, to one of the more expensive, shall we say, capital cities in the world, london. >> would you have done the job for less? >> i was offered these terms and i accepted them. >> do you see there might be any resentment amongst staff at the level of your pay package? i'm not aware of any. >> you don't anticipate that in any way? >> i don't anticipate -- if i...
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Feb 27, 2013
02/13
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we'll head out east to get all the data as the city's poised to enjoy a return to higher growth. >>> and we fly tout singapore to speak to the global head of trade at hspc who think that the face of trade is changing as more high-end products are due to be exported out of emerging markets. >>> bides all of that -- besides all of that, the focus is on the auction in italy. that will hit the tape in an hour and ten minutes. how much will italy have to pay for its political impasse? rome looking to sell between three and four billion euros of a ten-year issue. this was the six-month auction producing the most since 2012, up around 50 basis points. this is where the euro is trading ahead of the auction. 130.79 where we stand currently. yesterday we were down at seven-week low of around 1,317 -- 1.3017. it's warned in italy that a loss of investor confidence could increase borrowing costs and reignite the debt crisis. as for italy's politicians, the leader of the center left coalition has vowed that he would try to form a government and seek an alliance that would respond to the call for
we'll head out east to get all the data as the city's poised to enjoy a return to higher growth. >>> and we fly tout singapore to speak to the global head of trade at hspc who think that the face of trade is changing as more high-end products are due to be exported out of emerging markets. >>> bides all of that -- besides all of that, the focus is on the auction in italy. that will hit the tape in an hour and ten minutes. how much will italy have to pay for its political...
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Feb 28, 2013
02/13
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impact would be -- it would have a major impact on the city, especially at the top. what does it mean for the banks? what does it mean for the potential returns when you look at comp and return on investment for, you know, return investment capital for some of these financial names? >> look, if you're freezing pay bonuses at one times salary, which for the investment bank is quite a dramatic change, what will the reaction be? obviously, a lot of people leaving banks or you'll see -- which i suspect you'll also get an awful lot of complex pay deals coming up. >> that, too. >> and there's a lot of ways to try and get around it. >> credit suisse and some are trying to pay with derivatives. there may be different kinds of comp. but if you're talking about the best and the most talented, you could argue about that in the banking sector always. but those employees, if they're basically looking at this saying, i can go to singapore, hong kong, new york and get my traditional bonus structure that i want, why wouldn't they do that? >> or what you might get is a lot of people
impact would be -- it would have a major impact on the city, especially at the top. what does it mean for the banks? what does it mean for the potential returns when you look at comp and return on investment for, you know, return investment capital for some of these financial names? >> look, if you're freezing pay bonuses at one times salary, which for the investment bank is quite a dramatic change, what will the reaction be? obviously, a lot of people leaving banks or you'll see -- which...
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Feb 21, 2013
02/13
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some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> welcome back to "worldwide exchange." eurozone recovery hopes are dealt a blow after the regional pmi's flash estimates came in well below forecast. that compares with reuters forecast to 48.9. france, among the weakest link in the currency block with services activity slump to go a four-year low. we can take a look at the impact that that is having across markets. now down better than 2%. same goes for the xetra dax. the ftse 100 down 1.8%. the xetra dax is down 2% as well as the cac 40. the ibex 35 down 1.9%. now, u.s. futures are taking a hit on this. you can see the euro/dollar, for example, selling off as it is now decidedly below that 1.32 level. it's a pretty big move. dollar strengthened after the fomc meetings yesterday are a contributing factor. today, not much of a rebound shaping up. in fact, the dow now looking to shed something like 64 points, taking fair value into account. the nasdaq, the s&p 500 also weaker. look at that. the s&p is barely clingi
some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> welcome back to "worldwide exchange." eurozone recovery hopes are dealt a blow after the regional pmi's flash estimates came in well below forecast. that compares with reuters forecast to 48.9. france, among the weakest link in the currency block with services activity slump to go a four-year low. we can take a look at the impact that that is having across...
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Feb 13, 2013
02/13
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joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided down significantly for 2013 compared to what analysts were expecting. >> is that a play where you look then at rivals and see them benefiting, or is it pretty much a warning sign for everyone operating in this space? >> no. i think most of this is very company specific. barrick operates at guidance, cost of above $1,000 an ounce for 2013. most of the u.k. gold is at $750, $800 an ounce. and barrick cost shot up sharply in the past few years. again, company and country specific because of the issues they've faced with the power. they've also faced s
joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided...
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Feb 18, 2013
02/13
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some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> italy's mario montanaty is calling on the candidates to appear in a televised debate as he's struggling to gain ground in his first ever campaign. jules is in milan. anybody nibbling at his debate idea, jules? >> well, what we've seen is that he's in fourth place behind berlusconi, behind the comedian becky grillo and wind the man that's most likely to win right now, mr. bersani of the democratic party. but i think the important thing to point out here is there's still a third of voters out there that haven't made a decision, in part because of the scandals we've had in the last few months making it difficult for people to decide. for mario monti's point of view, it can't hurt. berlusconi came out immediately and said he's not willing to face mario monti. he doesn't want questions on his economic policy. but one of the things that gets banded around here is if he's more interesting in addressing his legal issues. you know, my accepts from that is that actually, d
some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> italy's mario montanaty is calling on the candidates to appear in a televised debate as he's struggling to gain ground in his first ever campaign. jules is in milan. anybody nibbling at his debate idea, jules? >> well, what we've seen is that he's in fourth place behind berlusconi, behind the comedian becky grillo and wind the man that's most likely to win right now,...
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Feb 12, 2013
02/13
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that's coming up in just a few moments. >>> and the mayor of london boris johnson says the city will remain at the heart of europe's financial services industry. >> i think that london and the uk will remain for our lifetimes the economic financial powerhouse of the european union. i don't think that there's going to be any change in that. it's inevitable after the shake up that we've seen in the last few years that there will be downsizing in some of these banks but that doesn't mean that you won't continue to see huge number oefs people employed in financial services in this city. this place, london, has the right time zone, it has the right combination of skill, it has the right language to be the best place on earth in which to raise capital in the global economy. >> and the situation surrounding greece and cypress has taken center stage at the euro group talks. silvia wadhwa call up with olli rehn and asked him just what was decided on cypress. >> we have plenty from cypress on the bond program for cypress could be taken in the course of the much. and the other things to watch t
that's coming up in just a few moments. >>> and the mayor of london boris johnson says the city will remain at the heart of europe's financial services industry. >> i think that london and the uk will remain for our lifetimes the economic financial powerhouse of the european union. i don't think that there's going to be any change in that. it's inevitable after the shake up that we've seen in the last few years that there will be downsizing in some of these banks but that doesn't...
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Feb 8, 2013
02/13
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everyone is trying to get out of the city before the storm hits. but everything starting from now is basically canceled. >> it will be hard. if you are stuck, there's within thing you can do. >> which is? >> turn the tv on. >> and watch cnbcwex. >> get your food in -- >> and -- >> no, no, the entire channel is fine. you don't have to just watch "worldwide exchange." there are worse things you could do. >>> still to come on the show, apple says it's considering returning cash to shareholders after coming under pressure from david einhorn. more details when we come back. . this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. [ male announcer ] ok, here's the way the system works. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a diffe
everyone is trying to get out of the city before the storm hits. but everything starting from now is basically canceled. >> it will be hard. if you are stuck, there's within thing you can do. >> which is? >> turn the tv on. >> and watch cnbcwex. >> get your food in -- >> and -- >> no, no, the entire channel is fine. you don't have to just watch "worldwide exchange." there are worse things you could do. >>> still to come on the show,...
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Feb 26, 2013
02/13
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it's a shame we couldn't get the full information in. we've now got with the gridlock here, what is -- i know there are many options. what do you think is the most likely? is a fresh election more likely than us coupling together some kind of coalition? >> i don't think so. at least not yet. to address your question, the next government probably won't last its full five-year term. however, fresh -- >> what is the next government? >> well, we'll get to that. there's no mon date here for austerity. you have a fragmentation amongst political parties, cobbling together a coalition is going to be difficult. historically, a coalition takes three to four weeks and it's not likely to be any quicker with this result. we are looking in the short term in weeks and probably months of political uncertainty. we have presidential elections coming, too. but in terms of fresh elections, they can't happen as quickly as they did in greece where they happened a month later. >> bettrsani will be first up trying to form a government. berlusconi said today he'
it's a shame we couldn't get the full information in. we've now got with the gridlock here, what is -- i know there are many options. what do you think is the most likely? is a fresh election more likely than us coupling together some kind of coalition? >> i don't think so. at least not yet. to address your question, the next government probably won't last its full five-year term. however, fresh -- >> what is the next government? >> well, we'll get to that. there's no mon date...
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Feb 11, 2013
02/13
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some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> let's take a look at u.s. futures. the last time we checked in, the dow was set to open about 11 points at the open. it's peared back just a tad. the dow is still trying to climb back towards that 14,000 level, a time, ross, when frankly more people were talking about warning signs in the market. >>> meanwhile, as far as the european stocks were concerned, and this is where we stand, firmer today. the ibex down 0.3%. the cac 40, ftse and xetra dax up between 0.25% and 0.5%. dollar index is up, kelly. >> that's right. and the dollar/yen, adding 0.5%. so 93.17. aussie/dollar weaker by about 0.5%. a lot of trade across asia is quiet or closed for the lunar new year. >>> france's problems have nothing to do with a single curren currency, but down to the problems itself. he said that the core of the french problem lies inside the cup, not in the foreign exchange rate. this time last week, the french president called for the rights to curve the euro. >>> and the euro g
some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> let's take a look at u.s. futures. the last time we checked in, the dow was set to open about 11 points at the open. it's peared back just a tad. the dow is still trying to climb back towards that 14,000 level, a time, ross, when frankly more people were talking about warning signs in the market. >>> meanwhile, as far as the european stocks were concerned, and...
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Feb 22, 2013
02/13
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no take on the public finances and we can drive new business into our city. >> james, thanks very much for coming by. >> thank you. >>> today is the last trading day until the italian election on sunday. how will markets react to the outcome? julia just spoke to the ceo of borsi italiana. is it snowing there? >> yes. it's very pretty, isn't illustrate? but i can tell you, it's absolutely freezing. now, i did speak to the ceo of borse italiana. first, i want to show you one of the headlines suggesting that the parties are fearing the polls right now. what we're seeing is that beppe grillo has actually now, according to one of these secret polls, pulled ahead of sylvia berlusconi. interesting question, of course, what this means for a future coalition because mario monti has not seen in the secret surveys to have increased his number of votes at all. so question marks over whether they're going to be able to get enough votes to form any coalition here. as you can imagine, plenty of uncertainty here and that's one thing thatdy talk to the ceo about. how concerned is he about the process b
no take on the public finances and we can drive new business into our city. >> james, thanks very much for coming by. >> thank you. >>> today is the last trading day until the italian election on sunday. how will markets react to the outcome? julia just spoke to the ceo of borsi italiana. is it snowing there? >> yes. it's very pretty, isn't illustrate? but i can tell you, it's absolutely freezing. now, i did speak to the ceo of borse italiana. first, i want to show...